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However, if a 0% card allows you to save money and pay off your debt faster, you can come out ahead in the long run both financially and credit score-wise.
Less Debt = Stronger Credit" data-reactid="22"Less Debt = Stronger Credithigh credit scores (785 and above on a scale of 300 – 850), tend to keep their balances low.
However, if a 0% card allows you to save money and pay off your debt faster, you can come out ahead in the long run both financially and credit score-wise." data-reactid="21" Depends on how you use a transfer.
Your bank or credit union may also be willing to help you consolidate, and there are some online lenders that offer consolidation loans.
(Tip: Triple check to make sure you are dealing with a reputable site if you are shopping for a loan online.
However, if you decide to go this route it is important to be very disciplined in your approach.
Otherwise, you may fall into traps such as getting stuck with a balance at a high interest rate after the introductory period ends." data-reactid="20"Transferring a high-rate credit card balance to a card at a lower rate can be another way to consolidate.
So it will affect your credit, but it may not be as bad as you fear.